The GBPUSD is threatening key resistance at the 1.3300 level.

The GBPUSD is approaching the key 1.3315 level which has stalled any bullish momentum since mid 2018, but a break of this level could be viewed as a longer term inverted head and shoulder’s pattern on the daily chart. The targets could eventually take us back towards the 1.4000 level near the 78% retracement at 1.3947.

Blake Morrow